Can I retire at age 70 with 2,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$244,434$242,257$240,132$238,059$236,035$231,363
2 years$121,007$118,753$116,569$114,451$112,397$107,711
3 years$79,870$77,607$75,428$73,330$71,310$66,754
4 years$59,306$57,049$54,892$52,830$50,859$46,469
5 years$46,970$44,727$42,599$40,579$38,662$34,451
6 years$38,749$36,523$34,426$32,451$30,592$26,564
7 years$32,879$30,672$28,608$26,680$24,879$21,036
8 years$28,479$26,292$24,262$22,381$20,640$16,979
9 years$25,058$22,892$20,897$19,064$17,382$13,901
10 years$22,323$20,178$18,218$16,433$14,810$11,507
11 years$20,087$17,963$16,039$14,302$12,737$9,607
12 years$18,225$16,123$14,234$12,545$11,038$8,077
13 years$16,650$14,570$12,717$11,075$9,625$6,828
14 years$15,302$13,244$11,427$9,831$8,437$5,798
15 years$14,135$12,099$10,317$8,768$7,429$4,943
16 years$13,114$11,100$9,354$7,850$6,566$4,227
17 years$12,214$10,223$8,511$7,054$5,822$3,624
18 years$11,416$9,446$7,770$6,357$5,176$3,115
19 years$10,702$8,755$7,113$5,744$4,614$2,682
20 years$10,060$8,135$6,528$5,202$4,121$2,313
21 years$9,480$7,578$6,004$4,721$3,688$1,997
22 years$8,954$7,074$5,534$4,293$3,306$1,727
23 years$8,474$6,616$5,110$3,909$2,967$1,494
24 years$8,035$6,199$4,726$3,566$2,667$1,294
25 years$7,631$5,817$4,377$3,256$2,400$1,122
26 years$7,260$5,467$4,059$2,977$2,162$973
27 years$6,916$5,145$3,769$2,725$1,949$845
28 years$6,597$4,848$3,504$2,497$1,759$733
29 years$6,301$4,574$3,261$2,290$1,588$637
30 years$6,025$4,319$3,037$2,101$1,435$554
31 years$5,768$4,083$2,832$1,930$1,297$481
32 years$5,527$3,864$2,642$1,774$1,173$418
33 years$5,301$3,659$2,467$1,631$1,062$364
34 years$5,089$3,468$2,305$1,501$962$317
35 years$4,889$3,289$2,155$1,382$871$275
36 years$4,701$3,122$2,016$1,272$789$240
37 years$4,524$2,965$1,887$1,172$715$209
38 years$4,356$2,818$1,767$1,081$648$182
39 years$4,197$2,680$1,655$996$588$158
40 years$4,047$2,549$1,552$919$533$138
41 years$3,904$2,427$1,455$848$484$120
42 years$3,769$2,311$1,365$782$439$104
43 years$3,640$2,202$1,281$722$398$91
44 years$3,517$2,099$1,202$667$362$79
45 years$3,400$2,002$1,129$616$328$69
46 years$3,288$1,909$1,060$569$298$60
47 years$3,182$1,822$996$526$271$52
48 years$3,080$1,740$936$486$246$45
49 years$2,983$1,661$880$449$223$40
50 years$2,890$1,587$827$415$203$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,960,000, adding $5,105 every year, while hoping to spend $29,220 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 68/14/18 Blend
69$2,960,000$2,960,000$2,960,000$2,960,000
70$3,267,186$3,110,306$3,064,426$3,474,720
71$3,569,349$3,231,621$3,135,994$3,735,269
72$3,901,353$3,357,901$3,208,981$4,016,264
73$4,266,212$3,489,359$3,283,402$4,322,908
74$4,667,244$3,626,216$3,359,275$4,657,725
75$5,108,107$3,768,705$3,436,614$5,023,491
76$5,592,829$3,917,066$3,515,436$5,423,265
77$6,125,849$4,071,554$3,595,755$5,860,413
78$6,712,058$4,232,432$3,677,585$6,338,641
79$7,356,843$4,399,976$3,760,939$6,862,029
80$8,066,141$4,574,475$3,845,830$7,435,071
81$8,846,492$4,756,230$3,932,271$8,062,715
82$9,705,104$4,945,555$4,020,272$8,750,409
83$10,649,917$5,142,780$4,109,843$9,504,155
84$11,689,681$5,348,247$4,200,995$10,330,561
85$12,834,034$5,562,317$4,293,734$11,236,904
86$14,093,599$5,785,365$4,388,068$12,231,203
87$15,480,081$6,017,783$4,484,003$13,322,284
88$17,006,376$6,259,980$4,581,543$14,519,875
89$18,686,693$6,512,386$4,680,692$15,834,687
90$20,536,691$6,775,448$4,781,450$17,278,520
91$22,573,623$7,049,635$4,883,819$18,864,371
92$24,816,502$7,335,436$4,987,796$20,606,560
93$27,286,275$7,633,363$5,093,377$22,520,859
94$30,006,029$7,943,951$5,200,558$24,624,645
95$33,001,198$8,267,759$5,309,332$26,937,059
96$36,299,813$8,605,372$5,419,687$29,479,190
97$39,932,760$8,957,402$5,531,613$32,274,271
98$43,934,075$9,324,487$5,645,095$35,347,897
99$48,341,261$9,707,298$5,760,116$38,728,269
100$53,195,646$10,106,532$5,876,657$42,446,455